Rivers Edge II
Community Development District

Approved Budget FY2020

Rivers Edge II
Community Development District

TABLE OF CONTENTS

General Fund
Budget	Page 1
Narrative	Page 2-7

Rivers Edge II
Community Development District
General Fund Operating Budget

	Amended
Budget	Actuals
as of	Projected
Next 5	Total
Projected	Approved
Budget	
Description	FY2019	4/30/19	Months	9/30/19	FY2020	

Revenues						
Developer Contributions	$ 712,570	$ 336,244	$ 347,961	$	684,204	$ 1,585,326	
Café Revenue	$ 145,830	$	-	$ 100,000	$	100,000	$ 174,996	
Special Events	$	-	$	-	$	-	$	-	$	7,000	
Total Revenues	   $ 858,400 		   $ 336,244 		   $ 447,961 		   $	784,204 		   $ 1,767,322 	
Expenditures										
Administrative										
Supervisor Fees	$	-		$	-		$	-		$	-		$	-	
FICA Expense	$	-		$	-		$	-		$	-		$	-	
Engineering	$ 15,000		$ 3,519		$ 2,000		$	5,519		$	15,000	
Arbitrage	$	600		$	-		$	-		$	-		$	600	
Dissemination Agent	$	3,500		$	-		$	-		$	-		$	3,500	
Attorney	$ 20,000		$ 18,645		$ 15,000		$	33,645		$	20,000	
Annual Audit	$	5,000		$ 3,000		$	-		$	3,000		$	5,000	
Trustee Fees	$	4,000		$	-		$	-		$	-		$	4,000	
Management Fees	$ 30,000		$ 21,250		$ 12,500		$	33,750		$	30,000	
Construction Accounting	$	3,500		$	-		$	-		$	-		$	3,500	
Information Technology	$	1,200		$	700		$	500		$	1,200		$	1,200	
Telephone	$	300		$	-		$	150		$	150		$	300	
Postage	$	1,500		$	-		$	750		$	750		$	1,500	
Printing & Binding	$	1,000		$ 1,156		$	750		$	1,906		$	1,000	
Insurance	$	5,800		$ 5,000		$	-		$	5,000		$	5,251	
Legal Advertising	$	4,000		$	242		$	162		$	404		$	4,000	
Other Current Charges	$	600		$ 1,487		$	500		$	1,987		$	600	
Office Supplies	$	1,000		$	-		$	500		$	500		$	1,000	
Dues, Licenses & Subscriptions	$	175		$	175		$	-		$	175		$	175	
Website design/compliance	$	4,500		$ 1,750		$	-		$	1,750		$	4,500	
Total Administrative	   $ 101,675 		   $ 56,925 		   $ 32,812 		   $	89,737 		   $ 101,126 	
Field Operations
Cost Share Rivers Edge	
$131,708		
$	-		
$ 131,708		
$	131,708		
$804,264	
General & Lifestyle Manager (Vesta)	$62,980		$ 36,738		$ 26,242		$	62,980		$177,548	
Facility/Hospitality Staff (Vesta)	$62,242		$ 36,308		$ 25,934		$	62,242		$0	
Field Operations Management (Vesta)	$31,020		$ 16,803		$ 12,925		$	29,728		$31,673	
Community Facility Staff (Vesta)	$27,964		$ 16,312		$ 11,652		$	27,964		$0	
Security Monitoring	$5,000		$	-		$ 2,500		$	2,500		$5,000	
Telephone	$5,000		$ 6,409		$ 4,690		$	11,099		$11,400	
Insurance	$44,371		$ 44,371		$	-		$	44,371		$46,590	
Landscape Maintenance	$45,000		$ 7,081		$ 5,000		$	12,081		$156,295	
General Facility & Common Grounds Maint (Vesta)	$23,273		$ 11,637		$ 7,758		$	19,395		$42,000	
Pool Maintenance(Vesta)	$25,000		$ 13,330		$ 9,193		$	22,523		$18,225	
Pool Maintenance(Poolsure)	$0		$	-		$	-		$	-		$6,775	
Pool Chemicals	$10,000		$	-		$ 5,000		$	5,000		$10,000	
Lake Maintenance	$0		$	300		$	-		$	300		$0	
Janitorial Services (Vesta)	$29,258		$ 17,067		$ 12,191		$	29,258		$16,133	
Window Cleaning	$3,500		$	225		$	200		$	425		$3,500	
Natural Gas	$750		$	845		$	490		$	1,335		$1,200	
Electric	$20,000		$ 12,071		$ 9,250		$	21,321		$23,000	
Sewer/Water/Irrigation	$30,000		$ 21,968		$ 17,500		$	39,468		$67,000	
Repair and Replacements	$5,000		$ 5,846		$ 3,000		$	8,846		$5,000	
Refuse	$5,340		$ 3,961		$ 2,000		$	5,961		$5,340	
Pest Control	$1,140		$ 1,180		$	475		$	1,655		$1,140	
License/Permits	$1,500		$	-		$	750		$	750		$1,500	
Other Current	$1,000		$	-		$	500		$	500		$1,000	
Special Events	$10,000		$ 35,073		$	-		$	35,073		$10,000	
Holiday Decorations	$0		$	-		$	-		$	-		$11,000	
Landscape Replacements	$500		$	-		$	250		$	250		$500	
Office Supplies/Postage	$500		$	386		$	200		$	586		$500	
Café Costs- labor/food/beverage/other	$174,678		$ 19,340		$ 97,810		$	117,150		$209,614	
Total Operations	   $ 756,725 		   $ 307,250 		   $ 387,218 		   $	694,468 		   $ 1,666,196 	
Total Expenditures	   $ 858,400 		   $ 364,175 		   $ 420,030 		   $	784,204 		   $ 1,767,322 	
Excess Revenues (Expenditures)	   $	-			   $ (27,931) 		   $ 27,931 		   $	-			   $	-		

REVENUES:

Developer Contributions
The District will enter into a Funding Agreement with the Developer to fund the General Fund expenditures for the Fiscal Year.
Café Revenue
Income received from café food and beverage sales net of cost of goods sold.

Special Events
Income received from residents/non-residents for the rental of the facilities for special events.

EXPENDITURES:

Administrative:

Engineering Fees
The District’s engineering firm, Proceser, Inc, will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Arbitrage
The District is required to annually have an arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm to perform the calculations.

Dissemination Agent
The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.

Attorney
The District’s legal counsel, Hopping Green and Sams, will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

Trustee Fees
The District will issue bonds to be held with a Trustee at a qualified Bank. The amount of trustee fees is based on the agreement between the bank and the District.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC. These services are further outlined in Exhibit “A” of the Management Agreement.

Construction Accounting
The District receives annual constriction account services as part of a Management Agreement with Governmental Management Services, LLC.

Information Technology
The cost related to District’s accounting and information systems.

Telephone
Telephone and fax machine.

Postage
Mailing of agenda packages, overnight deliveries, correspondence, etc.

Printing & Binding
Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes, etc.

Insurance
The District’s General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance (FIA). The amount is based upon prior year’s premiums.

Legal Advertising
The District is required to advertise various notices for Board meetings, public hearings  etc. in a newspaper of general circulation.

Other Current Charges
This includes bank charges and any other miscellaneous expenses that are incurred during the year by the District.

Office Supplies
Miscellaneous office supplies.

Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Community Affairs for
$175. This is the only expense under this category for the District.

Website Design/Compliance
Cost related to District website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements.

Field Operations:

Cost Share Rivers Edge
Cost related for reimbursement due to Rivers Edge CDD for the roundabout shared costs.

General & Lifestyle Manager (Vesta)
The District has contracted with Vesta Property Services, Inc to provide general amenity management, facility administration, special event coordinator services, and hospitality staffing at the Amenity Center.

Vendor	Description	Monthly	Annual	

Vesta	
General & Lifestyle Manager	
$	2,790	
$	33,475	
Vesta	Facility Staff	$	2,639	$	31,673	
Vesta	Hospitality Staff	$	9,367	$ 112,400	
Total			$ 177,548	

Field Operations Management (Vesta)
The District has contracted with Vesta Property Services, Inc to provide field operations management to oversee all day-to-day operation of all the Districts assets, common grounds, and service providers.

Vendor	Description	Monthly	Annual

Vesta	Field Operations Management	$

2,639	$

31,673

Total	$	31,673

Security Monitoring
Maintenance costs of the security alarms/cameras.

Telephone
The estimated cost for telephone services for the Amenity Center.

Vendor	Description	Monthly	Annual

ATT	Phone, Interent, Cable	$

950

$ 11,400

Total	$ 11,400

Insurance
The District’s General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance (FIA). The amount is based upon estimated premium for property insurance related to the Amenity and other District facilities.

Landscape Maintenance
Cost related to maintain the common areas of the District and Amenity Center.

General Facility & Common Grounds Maintenance (Vesta)
The District has contracted with Vesta Property Services, Inc to provide maintenance and repairs necessary for upkeep of the Amenity Center and common grounds area.

Vendor	Description	Monthly	Annual

Vesta

General Facility& Common Grounds Maintenance

$	3,500	$

42,000

Total	$	42,000

Pool Maintenance (Vesta)
The District has contracted with Vesta Property Services, Inc to provide maintenance of the Amenity Center swimming pools.

Vendor	Description	Monthly	Annual

Vesta	Pool Maintenance

$	1,519 $

18,225

Total	$	18,225

Pool Maintenance (Poolsure)
The District has contracted with Poolsure to provide maintenance of the Amenity Center swimming pools.

Vendor	Description	Monthly	Annual

Poolsure	Pool Maintenance

$	565 $

6,775

Total	$	6,775

Pool Chemicals
Cost related to pool chemicals for the maintenance of the Amenity Center Swimming Pools.

Janitorial Services (Vesta)
The District has contracted with Vesta Property Services, Inc to provide janitorial cleaning for the Amenity Center.

Vendor	Description	Monthly	Annual

Vesta	Janatorial Services

$	1,344 $

16,133

Total	$	16,133

Window Cleaning
The District will have windows cleared inside and outside three times a year.

Propane Gas
The District is under contract with TECO Peoples Gas to provide gas fire place and gas grills.

Electric
Estimated costs for electric billed to the District by FPL.

Location	Meter Number	Monthly	Annual	
156 Riverglade Run	2187961384	$	17	$	207	
160 Riverglade Run	7930174359	$ 1,389	$ 16,663	
25 Rafter Tail Ln #Entr	6649873020	$	59	$	711	
154 Riverglade Run	778654350	$	27	$	322	
49 Indian Grass Dr #IRR	3719284246	$	11	$	133	
95 Lindenwood RL #IRR	6042922226	$	45	$	539	
53 Lanier St Lights	2138829185	$	63	$	752	
158 Chandler Dr	1948796477	$	14	$	172	
20 Cloverbrook Rd	1983445246	$	15	$	185	
656 Narrowlead Dr	9067238536	$	18	$	210	
484 Indian Grass Fr	9116255242	$	26	$	313	
98 Perdido St Lights	9390235356	$	26	$	309	
7306 Longleaf Pine Pkwy #Sign	5262085169	$	19	$	224	
Contingency for new accounts		$	188	$ 2,260	
Total		$ 1,917	$23,000	

Sewer/Water/Irrigation
Estimated costs for sewer, water, and irrigation for the amenity center billed to the District by JEA.

Location	Meter Number	Monthly	Annual	
41 Indian Grass Rd	83547108	$356	$4,267	
261 Indian Grass Rd	85083644	$554	$6,652	
481 Indian Grass Rd	85083641	$523	$6,275	
128 Maybeck Dr	84966345	$645	$7,737	
129 Maybeck Dr	84918378	$8	$97	
498 Narrowleaf Dr Apt IR01	84966365	$905	$10,857	
121 Cabot Place Apt IR01	85639239	$108	$1,299	
16 Cloverbrook Rd	82157881	$40	$1,495	
Contingency for new accounts		$2,360	$28,322	
Total		$5,498	$67,000	

Repairs and Replacements
Represents regular cleaning, supplies, and repairs and replacements for District’s Amenity Center.

Refuse
Garbage disposal services for the Amenity Centers provided by Republic Services.

Pest Control
The District is contracted with Turner’s Pest Control to provide pest control services.

Vendor	Description	Monthly	Annual

Turners Pest Control  Pest Control	$

95	$

1,140

Total	$	1,140

License/Permits
Represents license fees for the amenity center and permit fees paid to the Florida Department of Health in St. Johns County for the swimming pools.

Other Current
Represents the miscellaneous cost incurred by the District’s Amenity Center.

Special Events
Represents estimated costs for the District to host special events for the community through the Fiscal Year.

Landscape Replacement
A provision for additional landscape features or for repair of existing landscaping.

Office Supplies/Postage
Costs of supplies and postage incurred for the operation of the Amenity Center.

Café Costs- labor/food/beverage/other
Cost related to operating the café